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Nov 17, 2012

Latin America pledges support for Iberia, warns on austerity

CADIZ, Spain (Reuters) – Latin America on Saturday pledged investment opportunities for recession-hit Spanish and Portuguese companies but warned its former colonial masters drastic cost cutting would only deepen their misery.

The economic plight of Iberia dominated a two-day summit of leaders from Spain, Portugal and Latin America in the southern Spanish city of Cadiz – a principle port for Spanish galleons loaded with riches in the days of empire.

Nov 17, 2012

Latin America looks to Europe for drug fighting models

CADIZ, Spain (Reuters) – Latin American countries are turning to Europe for lessons on fighting narcotics abuse after souring on the prohibition-style approach of the violent and costly U.S.-led war on drugs.

Until recently, most Latin American countries had zero-tolerance rules on drugs inspired by the United States.

Oct 29, 2012

Politics puts Italy, Spain back in market focus

MADRID/ROME, Oct 29 (Reuters) – Italian political turmoil
and Spanish hesitancy over seeking euro zone assistance put the
two countries on the front line of the currency area’s debt
crisis back under market pressure on Monday as their leaders met
in Madrid.

Former Prime Minister Silvio Berlusconi’s weekend threat to
bring down his successor Mario Monti’s government, and regional
elections in Sicily in which a protest party led by a stand-up
comic polled strongly, highlighted the political risks in Italy.

Oct 25, 2012

Rajoy leans on abrasive economist in Spanish crisis

MADRID, Oct 25 (Reuters) – His face is frequently on
television and yet few Spaniards know his name; Alvaro Nadal is
central to Madrid’s crucial but often tetchy relationship with
Berlin as his government edges towards taking an international
bail-out.

Nadal is Prime Minister Mariano Rajoy’s right-hand man as he
struggles to lift Spain out of its crisis. A fluent German
speaker with strong conservative credentials, Nadal ought to go
down well in Berlin, where Spain’s fate in the euro zone crisis
will ultimately be decided.

Oct 11, 2012

Spain comfortable with waiting game on aid

MADRID (Reuters) – Spain is comfortable putting off an international aid request for weeks or even months as it waits out German political obstacles and seeks greater definition on the European Central Bank’s bond-buying program, analysts and sources say.

In the meantime, Spanish Prime Minister Mariano Rajoy is focusing on measures such as intensifying labor market reforms, as well as pushing for a European banking union that would help rebuild confidence in Spain’s tarnished banking sector.

Sep 20, 2012

In Spain, economic crisis fans Catalan separatism

MADRID, Sept 20 (Reuters) – Spain’s economic crisis is
exposing deep regional fault lines. Among Catalans on
Barcelona’s boulevards the talk is of independence, and Madrid
is worried.

This week the king and prime minister called for national
unity to get Spain through its worst downturn in decades, King
Juan Carlos recalling the spirit that built a democracy after
dictator Francisco Franco’s death in 1975.

Jul 18, 2012

Spain’s leader could learn some lessons from Portugal

MADRID/LISBON (Reuters) – Spanish Prime Minister Mariano Rajoy could learn some lessons about communication from neighbouring Portugal as he struggles to restore confidence in Madrid’s public finances and avoid an international bailout.

Spain’s borrowing costs have soared, bringing the country dangerously close to being shut out of the bond markets even after euro zone partners promised aid for its ailing banks and Rajoy announced a new austerity plan last week.

Jul 18, 2012

Analysis: Spain’s leader could learn some lessons from Portugal

MADRID/LISBON (Reuters) – Spanish Prime Minister Mariano Rajoy could learn some lessons about communication from neighboring Portugal as he struggles to restore confidence in Madrid’s public finances and avoid an international bailout.

Spain’s borrowing costs have soared, bringing the country dangerously close to being shut out of the bond markets even after euro zone partners promised aid for its ailing banks and Rajoy announced a new austerity plan last week.

Jul 9, 2012

Spain deal requires “bad bank,” more capital: source

MADRID (Reuters) – Spain will create a single ‘bad bank’ to house all its banks’ soured assets and the banks will all increase their core capital buffers to 9 percent in return for up to 100 billion euros in European aid, a government source said on Monday.

Euro zone leaders have promised to help Spain’s banks, left laden with bad debts when a property bubble burst four years ago, after it became clear that with one in four workers out of a job the country could not manage the crisis without some form of outside help.

Jun 21, 2012

New dangers lurk for rudderless Spain

MADRID, June 21 (Reuters) – Spain seems trapped on a
conveyor belt carrying it toward a furnace – an international
rescue of the euro zone’s fourth biggest economy.

Bad commercial loans, economic decline and sliding real
estate prices are all aggravating problems at Spain’s
over-extended banks, which lent too much too freely during a
credit fuelled property boom that lasted almost a decade.

    • About Fiona

      "Fiona Ortiz is Reuters' chief correspondent for Spain. She has also lived and worked as a journalist in Argentina, Chile, Mexico, Costa Rica, Guatemala and Portland, Oregon."
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